Accelera, Daimler, Paccar complete battery joint venture transaction

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Updated Jun 5, 2024
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Amplify Cell Technologies has formed from a joint venture of Accelera by Cummins, Daimler Trucks & Buses U.S., and Paccar, the companies announced Tuesday. 

Amplify will be led by Kel Kearns as CEO. The company aims to localize battery cell production and the commercial vehicle battery supply chain in the United States. It will soon begin construction of a 21-gigawatt hour factor in Mississippi with the potential for further expansion as demand grows. The factory is expected to create more than 2,000 U.S. manufacturing jobs. Production is targeted to start in 2027. 

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"Cummins' power solutions are at the heart of the economy, and we have the responsibility to decarbonize in a way that meets our customers' varied needs as they navigate the energy transition," says Jennifer Rumsey, chair and CEO of Cummins. "Amplify Cell Technologies will enable Accelera by Cummins and our partners to advance battery cells focused on commercial and industrial applications in North America and serve our customers' evolving needs. This is a significant step forward as we continue leading our industry into the next era of smarter, cleaner power." 

Accelera, Daimler Truck and Paccar each own 30% of Amplify. EVE Energy serves as the technology partner with 10% ownership and contributes its industry-leading battery cell design and manufacturing expertise to the venture. 

"Amplify Cell Technologies will enable Paccar to offer customers cost-effective premium quality battery electric powertrains that meet their operational and sustainability needs," says Preston Feight, Paccar CEO. "We are pleased to begin this exciting venture with these world class partners." 

The partners are committed to reducing carbon emissions consistent with the Paris Climate Agreement. 

"For Daimler Truck, a strict focus on costs and smart capital allocation are the key levers to succeed on the path toward truly sustainable transportation," says John O'Leary, president and CEO of Daimler Truck North America. "This partnership enables economies of scale beyond Daimler Truck. It is a key puzzle piece of our battery industrialization strategy, ensuring access to the right battery cell technology at the right cost and right time for our customers." 

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